According to CBRE, foreign investment in Australian commercial property has reached a new annual record, despite international border closures, with $16.6 billion in office, retail, industrial and hotel assets having changed hands year to date.
Global property consultant CBRE is reporting this week that office sublease availability across Australia's major cities has fallen to the lowest level in a year, despite prolonged lockdown restrictions in Sydney and Melbourne.
According to global property consultant CBRE, Australian hotels sales have surged to almost $2 billion this year - hitting a five-year high and up from just $681 million 2020 - despite a year of lockdowns and ongoing travel restrictions.
On a quarter-over-quarter basis, Q2 2021 saw $2.3 billion in hotel transaction volume across the region, a 5.1% slide from Q1 2021. Japan, Mainland China, Korea and Australia made up the bulk of sales volume during the second quarter, says CBRE.
According to CBRE, Perth's residential market is on track to record double digit growth for the first time in 11 years - leading Australia's housing recovery in 2021.